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CNBC
Nov 20, 2013 3:00pm EST
action. quency crosby is part of our "closing bell exchange," jason pride, steve liesman and rick santelli. and plus bars and ton. is rick santelli there or is that him there? >> i'm here. >> steve liesman, let's start with you. what did the minutes say that spooked the market? >> that a taper is coming in the coming months if the economy performs according to the fed's forecast. that forecast is for a gradual improvement or acceleration in growth to 2014. not necessarily expected at the end -- in the fourth quarter because you'll probably get weak growth. that's why i would rule out a december taper. that it's coming in the coming months and the fed is looking for a we to do that in a way that doesn't cause the market to bring forward when it would raise interest rates. >> what does that mean about investing? what did you hear as an investor trying to allocate capital across? jason pride, jump in there in terms of allocating capital. what does this mean to you today, the minutes? >> one of the most important things people keep missing is the fed needs to taper in order to remain
CNBC
Nov 6, 2013 3:00pm EST
first president bush also with us our own steve liesman. gentlemen, good to see you. >> good to be here, maria. >> explain the theory. >> well, look, if obama care fails because of the website, well, then that's terrible for the president. let's say it succeeds and give it the benefit of the doubt and say the president is right and 30 million people sign up, and they start getting insurance, but they start paying premiums. those premiums maybe they'll be a bargain, $100, $200 a month. >> they haven't been a bargain. i see your point. >> let's give the president all the credit and say it's going to work. that's by my calculations about $77 billion of spending by consumers that they won't have to spend at mcdonald's and target and ford motor -- that's a lot of money. more than the president's stimulus plan spent on infrastructure or for tax cuts. it could be in an economy right now where consumers look a little bit shaky, it could be just enough to dislodge us from this tentative recovery. >> steve, you on board? >> not exactly. and i question todd advisedly because he's taught me about e
CNBC
Nov 12, 2013 3:00pm EST
don't to want take steve liesman's job away from him. the truth is interest rates went up and market went up. that's good. i don't disagree with rick on many issues. however, on this one, i think the world is getting better. only by a little, but getting better. ceos are doing a great job. i think we can handle getting rid of this mystery, getting rid of this qe. >> i agree. why did they stop going down the taper road then? what you said makes sense. the fed doesn't think so. they don't have the confidence you do, i guess. >> i look at the markets, the ceos, i'm happy to stay in -- i don't. expect the world but i'm happy to stay in. tapering, if they do it right, god knows what that means, we'll be all right. >> how do you want to allocate capital? anthony chan, what would you be doing in terms of recommending folks allocating capital here? czink right now, maria, when you look at price earnings ratio, and if we use our expectation for the s&p 500 of maybe $115, much lower than the market which is expecting $120, $122, a price earnings ratio of 15 1/2. i'm getting more excited about
CNBC
Nov 13, 2013 3:00pm EST
steve grasso. david, everyone is talking about janet yellen and her testimony to the banking committee tomorrow as they begin the confirmation hearings for her fed chairmanship. what do you expect her to say? >> well, i expect her to say that she is data-dependent. i think these going to try to avoid getting labeled as a dove or hawk. i think she'll say she's essentially an academic by nature so she's going to look at the numbers and the numbers are going to govern fed policy. but i think there's a fundamental contradiction here. you can't say -- assure people rates will be low forever but then just say you're going to watch the data. in a way i think she'll build herself into a trap by which she'll be forced to gradually tighten as she's fed chair because of her data-dependency. >> so, steve grasso, what kind of a trade are you seeing ahead of what we learn from yellen and that testimony? how do you think the institutions react to it? >> i think we'll see more of what we have been seeing, sort of to david's point. i don't think she'll say anything different than chairman ber
CNBC
Nov 11, 2013 3:00pm EST
yoshikami at the new york stock exchange, also a cnbc contributor, steve saks, michael hennessey is out in the stratosphere somewhere. >> he's with me. >> i thought he was. good see you all. >> michael, here we go again. very strong jobs report on friday. the blue chips at least liked it but the secondary stocks, the small caps, have been suffering lately. what's going on in this market, do you think? >> i like the sendingary stocks. of the beta stocks have rallying. look at tesla, i realize there's fires going on there but secondary stocks have had huge rallies. i think what you're going to start to see as fundamentals, granted, on the slow basis, start to improve you'll see core stocks continue to pick up momentum. >> maria? >> neil hennessey, what about momentum? they have been driving the day all this year and then when they started to roll over the last couple of weeks. would you put new money in the market now and where are the groups that lead, if in fact we were to see the rally continue? >> if you're not in the market at all, you should be committing some money to the market. i
CNBC
Nov 19, 2013 3:00pm EST
behind a story that the jobs report was doctored? steve liesman's been digging into that all day. he brings us his latest findings still to come on the "closing bell." i'm beth... and i'm michelle. and we own the paper cottage. it's a stationery and gifts store. anything we purchase for the paper cottage goes on our ink card. so you can manage your business expenses and access them online instantly with the game changing app from ink. we didn't get into business to spend time managing receipts, that's why we have ink. we like being in business because we like being creative, we like interacting with people. so you have time to focus on the things you love. ink from chase. so you can. ♪ [ male announcer ] laura's heart attack didn't come with a warning. today her doctor has her on a bayer aspirin regimen to help reduce the risk of another one. if you've had a heart attack, be sure to talk to your doctor before you begin an aspirin regimen. >>> welcome back. well, there has been a lot of talk surrounding the bitcoin mania. what exactly is a bitcoin? >> i'm glad you asked. we put toge
CNBC
Nov 4, 2013 3:00pm EST
the consumer when it comes to selling blackberries? >> i mean i think we learned from steve jobs you know you can't make products that are just good enough. that's not going to sell to the consumer. and blackberry has made products that are just good enough. they don't delight consumers. >> she's basically saying, the company doesn't work for you what you want it to work for for consumers. >> i actually 100% agree with her in the sense i don't think it's meant for the everyday consumer. they tried competing head to head with the iphone saying we can match the iphone feature by feature. the people who have their blackberries and still have them -- the five sitting out here are not choosing it for the same reason people choose it for android or iphone. they choose it for productivity. >> for me and for a lot of us out here we choose the blackberry because it's good a real keyboard. this is the new q10 that i have. but you have the new -- what is it the z30. >> z30. >> there is no ski board. >> absolutely no keyboard. this is clearly a consumer play. >> the company's confused. >> you th
FOX Business
Nov 4, 2013 3:00pm EST
fund firm started by billionaire steve cohen does not close the door on future criminal prosecution of individuals at that hedge fund. now, sac capital has released this statement saying in part: we take responsibility for the handful of men who pleaded guilty and whose conduct gave rise to sac's liability. quote, the tiny fraction of wrongdoers does not represent the 3,000 honest men and women wolf worked here -- who have worked here during the past 21 years. sac has never encouraged, promoted oral tolerated insider trading. no outside investors. our charlie gasparino has been following the case from the very beginning, he will be here in just a few moments, he's running back from the courthouse to tell us what it all means for founder steve cohen and his future managing money. and maybe even some of the other firms that might be now in the crosshairs. the stunning market rally continues right now. the scorecard, s&p 500 up some 24% year-over-year. right to the floor show. the cme group, the nymex and the new york stock exchange. first, we really should talk about what's going on with
CNBC
Nov 14, 2013 4:00pm EST
telephone is steve parsley, a boeing crane operator who's been with the company for 24 years. he voted against the offer made to the union last night. steve, thanks for joining us. >> you're welcome. >> why did you vote no on the plan that union pushed before you last night? >> it's just too much concessions. it's an ultimatum for us. and if we concede on this, i see it happening again in the future. >> what do you mean you see it happening in the future? >> if we had accepted this contract offer, who's to say boeing wouldn't come back in two, three years from now and give us another ultimatum on a different airplane? >> what are the options? i mean, what is the alternative here if boeing is trying to do something and make sure it's watching its cash? initially it was supposed to -- it was threatened to actually close down the plant. >> boeing -- excuse me. boeing has threatened that or something similar every time to the machinists. if they want to negotiate and not just put forth contract offer and call it an ultimatum, we're willing to negotiate. we have leadership that will n
FOX Business
Nov 14, 2013 3:00pm EST
announced that steve balmer, the ceo, is leaving, and now it's some gigantic guessing game, and we have to make graphics with nine different people's faces including alan mulally, and i don't think that's good for the stock. would you do it differently where far in advance today telegraph who the successor will be? >> so, liz, a series of questions. first of all, i said a year ago i'd be here for 2-4 more years, that has not changed. we said six months prior to letting the change we'll let the street know what we're doing, and we will do that. in terms of timing, you really want to think about i want to get us through this slowdown. i actually think we're going to go through it faster than most people think, and we think it's largely macro although there are always areas we need to do better, and we're all over that. we have the breadth and depth of a leadership team that i'm so proud of, and they've actually gotten stronger through these bumps. whether it's as quickly as a year from now or two years from now, we'll have a leadership team that makes this transition go very well. li
CNBC
Nov 18, 2013 4:00pm EST
. steve liesman with the story. >> thanks. this poll conducted by public opinion strategists, which does the polling for cnbc the republican half of our polling team, did this poll on behalf of the international franchise association and the u.s. chamber of commerce. find a very negative impact right now on businesses and employment from the affordable care act. let's take a look at the graphics. 64% of franchise and 53% of nonfranchise are saying the aca is having an impact on their business. you might expect that but now let's take a look at what they're saying about specifically how. they say because of aca, 30% of franchise owners have replaced full with part time about 15% have seen reduced staff and more than 30% have reduced worker hours. this has potentially huge neck negative impact on employment. one other piece of data. asked if they would stay below 50 workers. 59 % of franchise owners and 52% of nonfranchise owners. there's a lot of debate about this. unclear whether or not it shows up in the official government data. right now this survey of 400 franchise and nonfranch
FOX Business
Nov 7, 2013 3:00pm EST
treated not a good sign they are ready for the big leagues steve mcbride way they should have accepted a nice offer from the fox business we are a leading this is the work week cover things clean and fair and there was no reason to say no. whether they want to do another network but why some of the fox business id we would have done an excellent job but that being said there was a huge crowd and you could not get in there. says ceo and the executives in the middle surrounded by traders tuned obviously governors and the like then some of paparazzi and as a shield by the communications department. so unless i would do some crowd surfing at our rock concert it was near impossible to try to get to the center of the crowd or get comments. maybe we will make a better decision to wait for word but not all the at the open but what is most telling that holds onto the gains that we have seen so far. >> it is up 86%. later in the program we have qualcomm ceo paul jacobs "first on fox" business understanding we are a network that people listen to and i make the point because i guess we learned fro
CNBC
Nov 20, 2013 4:00pm EST
learned here and yet the market sold off. steve liesman was there and, yes, this is confusing. i don't know what some of your guests think about this but it makes it hard to read exactly what a marketplace should do. >> nathan how do you allocate capital post the minutes here knowing they're looking at the next couple of months? >> well if it happened in the next cowluple of months and i'll give my original front two teeth back as well if they did that in the next couple of months we'll have a taper tantrum like we saw about five months ago. rates are going to spike. the fed's going to have to figure out how to have a new -- two new mandates, in my opinion. number one how to stop the tapering while still having an easy money policy. also convincing investors that interest rates aren't going to spike when they start the tapering. that's the challenge. when that happens, i think you'll lighten up in the united states and you start looking at the movie called europe which is a mini version of what we've been living for the last five years. i also think you have to continue to shorten up y
CNBC
Nov 21, 2013 4:00pm EST
? should we be getting in now? steve grasso and jonathan corpina. steve, what happened at the end of the day? walk us through how this market has been just -- >> everyone's been buying into this market, of course. waiting for that pullback to happen. when that happens, you get the shorts that are just waiting, waiting, waiting to cover. and then as they start to creep up to those round numbers, they do cover. that's the last leg of it. so right now i feel like year end, as bob said, seasonally bullish. i don't know right here. i feel like we're due for a pullback like everybody else. the problem is december 13th you get those budget hearings. that could be a catalyst. that could be a tail wind for the market to go higher. we're running out of daylight before year end for that selloff. >> jonathan, you both have seen, you know, ups and downs in this market. how does it feel to you in terms of the health of this market and, of course, the sustainability of this rally? >> right. the higher this market goes, we keep having these conversations of when is the pullback going to happen? what's g
FOX Business
Nov 5, 2013 3:00pm EST
excellent group here in new york, the new mountain capital people led by steve kalinski, a very, very well regarded private equity fund. this is a company that is essentially making investments into small to medium-sized businesses. you have over a 9% dividend yield here -- liz: love that. >> and i believe that yield's got upside, about a $600, $700 million capitalization. i think the bdcs are a little misunderstood as an asset class, and i think they should be owned. it's one of my top personal holdings as well. liz: puts his money where his mouth is. dan veru, pal said capital management. crude oil, so we showed this at the top of the show because to see it hit a four and a half month low rather interesting. yes, wednesdays we get u.s. inventories, and we saw that rise, weaker demand drives the commodities price lower. sandra smith makes sense of it as we look forward, sandra. >> reporter: an unbelievable move to the downside that we're seeing, and most analysts say it's going to continue through the rest of the year. we're looking at more than a dollar drop in crude oil price
CNBC
Nov 8, 2013 4:00pm EST
down its search to five candidates to replace ceo steve ballmer. also negative report on earnings. tesla losing 15% of its value as quarterly earnings disappointed investors and a third model s car caught fire and caught a lot of investors' attention. the third time in six weeks here. the national highway transportation traffic safety administration just put out a statement saying they were in close contact with tesla and local authorities gathering information on that particular incident. and blackberry, of course, falling 15% as well. this on news it was no longer for sale at $9 a share. earlier today reuters reported that its board rejected proposals to break up the company despite interest from the likes of companies like microsoft and apple. back over to you. >> amazing. thank you, dom. we have more on blackberry. the company releasing interim ceo john chen's pay details. chen will receive a base salary of $1 million with bonus up to twice that amount and stock awards potentially worth some $85 million. there's one catch. the majority of those share awards will only kick in a
CNBC
Nov 19, 2013 4:00pm EST
holding annual shareholder meeting today. big talk, who will replace outgoing ceo steve ballmer. josh lipton live in bellevue, washington. >> reporter: it was an historic day at microsoft shareholder meeting. the last meeting with steve ballmer as ceo. ballmer's record at microsoft is mixed. revenue jumped but critics say he mixed big tech trends like mobile and social. stock is up sharply this year but down 25% under his watch. bill gates at the shareholder meeting today gave no guidance for when a new yi would be picked. he did seem to get choked up when talking about his friend, steve ballmer. >> we've got a commitment to make sure the next ceo is the right person for the right time for the company we both love. and we share a commitment that microsoft will succeed as a company that makes the world a better place. >> top picks to replace ballmer mentioned, ford ceo allen mulally and former nokia ceo elop, as well as kevin turner, coo and nadella of cloud and shared enterprise. microsoft made a point of emphasizing their cloud products. whoever replace ballmer and strategis, t
FOX Business
Nov 20, 2013 3:00pm EST
. lauren simonetti with the trader reaction. and $40 billion in asset management. we will get to steve in a minute. but which specific line moved to market the most here? speak out it is this one, many members stress data dependent asset purchase program and some pointed out if economic conditions warranted, the committee could slow the pace of purchases at one of its next few meetings. and got into the weeds of the labor market, but the october 30 meeting was before we got the october jobs report which showed substantial upward revisions in the september jobs payroll jobs numbers, so perhaps the markets were little bit spooked maybe the data would be coming in a little stronger than they had before. tapering may be on the table the next meeting in december, who knows. liz: there is the december meeting. whether the u.s. dollar. moving to these reaction. you had a front-row seat to the generations here. >> we saw them in stocks and the dollar index. 81.1, it did rise after those minutes were released. that is the highest since september 17 after fears of a possible paper. we are hitting t
CNBC
Nov 12, 2013 4:00pm EST
thrilled to see you. i've compared this gentleman to the next steve jobs. but when you walked in, i said, how are you? you said, it's been a tough week. when you hear about a fire like this, what happens? tell us -- bring us inside the room for a moment. what happens at tesla. because i imagine everybody says, oh, my goodness, there are clearly issues and concerns in the marketplace about batteries and fires, period. i mean, that's where this all begins. and then what do you do? >> well, i guess we -- you know, we kind of see what the reaction is. and then, you know, in this case the reaction is extremely inaccurate and unreasonable. you know, the fact that there are 200,000 -- 20 0,000 gasoline car fires per year in the united states, 200,000. there are on average 200 fire deaths per year, 300 fire injuries per year. how many times have you read about that? can you recall -- >> no. >> -- one instance -- >> no. in complete fairness. >> exactly. so it's like, wow, this is completely unreasonable and wrong. the expert press, you know, in the sort of automotive industry, take the automotive
FOX Business
Nov 6, 2013 3:00pm EST
media but another hot topic is who is the next ceo for microsoft? steve ballmer planning to retire in the next couple of months and that question has been asked over and over again for the dow component who will replace him. our friends have been monitoring the social media sentiment and here's what they are seeing. in order of mentions on the site, the number one is ford ceo. telling fox business a while ago i am focused on ford. number two, stephen elop. and taking the top third spot, don mattrick, current ceo of zynga reedit really? interesting. there are strong internal candidates trending on their site. former ceo of skype. and satya nadella. we will continue to watch the race until we know the real name of the new ceo. a lot of work to be done. the closing bell in seven minutes. when we come back we will bring in the s&p winners. dow jones industrials look to make it another record close today. you've got to watch. we are right here for you. you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna
CNBC
Nov 6, 2013 4:00pm EST
process of being sold. finally steve cohen, the signal is that they are going to fight the case. they are sending signals that they are unlikely to settle in that civil case. >> all right. thanks so much. up next we will recap a record day on wall street. back in a moment. mike rowe here at a ford dealer with a little q and a for fiona. tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee affording peace of mind to anyone who might be in the market for a new set of tires? your ford dealer. i'm beginning to sense a pattern. get up to $140 in mail-in rebates when you buy four select tires with the ford service credit card. where'd you get that sweater vest? your ford dealer. i'm beth... and i'm michelle. and we own the paper cottage. it's a stationery and gifts store. anything we purchase for the paper cottage goes on our ink card. so you can manage your business expenses and access them online instantly with the game changing app from ink.
CNBC
Nov 4, 2013 4:00pm EST
a public guilty plea by senior representative from s.a.c. not necessarily founder steve cohen but as well as sentencing to follow several months later. it's after that s.a.c. needs to get serious about restructuring. they'll have to appoint an independent compliance monitor to oversee what they're calling the wind-down. what that means is they have to return third-party money to investors. a process that actually will be mostly completed at the end of the first quarter, from what i'm told, but could take ultimately one two two years, maria because they have liquid assets they need to sell. that process is currently being negotiate with the s.e.c. they have sfooif years to do it. probably won't take that long. >> so, nearly -- kate, thank you for the facts. we want to talk about this. nearly $2 billion to settle insider trading charges at s.a.c. we want to get the latest from sheila bair. u.s. attorney pete bharara said penalties are steep but fair. he made it clear this shut help serve as a deterrent. you agree? >> i absolutely agree. this is great. this isn't just the cost of doing
Search Results 0 to 21 of about 22